Netherlands-based hotel management company Cycas Hospitality is continuing its European expansion with the signing of its inaugural property in Germany. The company has secured a deal to operate the privately owned, 133-suite Element Frankfurt Airport via a long-term lease.
The extended-stay Marriott International property—it incorporates a ground-floor restaurant, two meeting rooms plus underground parking—is Cycas Hospitality’s tenth European hotel and sixth airport property. It's also the fifth long-stay brand in Cycas’ portfolio, alongside Staybridge Suites (IHG), Residence Inn (Marriott), Hyatt House and South Point Suites.
Originally opened in 2014 as Europe’s first Element hotel, the property is part of Gateway Gardens; a 700,000-square-meter global business village within walking distance of Frankfurt International Airport’s Terminal 2.
The hotel will be managed by Cycas Hospitality Area General Manager Bart Luijk, who also is responsible for the management company’s newest dual-brand hotel, which combines a Marriott’s Moxy and Residence Inn brands in Amsterdam’s creative Houthavens district.
“Last year Cycas identified Germany as one of our target markets, thanks in part to the country’s strong extended-stay potential,” said Eduard Elias, co-founder and managing partner at Cycas Hospitality. “This deal to manage our first German hotel therefore signals a key step in our ambition to triple our European portfolio.
“As Germany’s financial hub, Frankfurt’s reputation as the ‘gateway to Europe’ has become even more significant since Britain’s vote to leave the EU. There’s no doubt that the increased connectivity planned for Gateway Gardens this year will boost the hotel’s appeal to business travelers and project workers alike. We are, therefore, thrilled to have introduced our fourth Marriott flag to the Cycas portfolio," said Elias.
The deal follows an active year for Cycas’s European expansion, with nine signings across the continent in 2018. Its hotel portfolio now covers three of Europe’s busiest airports; London, Paris and Frankfurt. By 2022, Cycas expects to have as many as 4,000 guestrooms in Germany and more than 10,000 across its European portfolio.